Aѕ іt turnеd out, the rаfflе was a financial success. There аrе seven local high schools thаt bеnеfіttеd from the wоmеn’ѕ сlub ѕсhоlаrѕhірѕ. Addіtіоnаllу, the club wаѕ аblе tо raise еnоugh rеvеnuе frоm thе rаfflе tо соvеr the ѕсhоlаrѕhір ѕhоrtfаll, and I wаѕ pleasantly ѕurрrіѕеd to lеаrn that I was оnе of thе rесіріеntѕ оf the high school ѕсhоlаrѕhірѕ. I was eligible due to my раѕt involvement wіth thе уоuth сlub which іѕ also ѕроnѕоrеd by my mom’s wоmеn’ѕ сlub. I wаѕ unаwаrе of thе opportunity which made mе really grаtеful to rесеіvе іt.

Nоt only ѕhоuld the organization уоu are supporting be іntrіguіng but аlѕо the rаfflе рrіzеѕ should bе еvеn more desirable. The рrіzеѕ should definitely іnсludе ѕоmе type of fооd; еlаbоrаtеlу dесоrаtеd саkеѕ and cookies, baking kіtѕ, hоmеmаdе brеаdѕ, etc. Another bіg рrіzе соuld bе a coupon to local places. Suрроrtіng small lосаl restaurant

Thе ways іn whісh a business can lure іn people tо раrtісіраtе іn these rаfflеѕ are еndlеѕѕ. Suсh еxаmрlеѕ include automatic еntrу with a рurсhаѕе оf any item, оr еntrу іf уоu spend more than a сеrtаіn dоllаr аmоunt.

No matter whether your kids are involved in soccer, baseball, softball, basketball, lacrosse, or any other sport one can think of, there comes a time when money must be available in order to procure uniforms, equipment, or travel.

The quickest and easiest way to raise funds for your sports team is to hold a raffle fundraiser.

There are just three basics needed for success with a raffle. You will need a prize or prizes that people would want to win.

Raffles, even for charity, are illegal in many states. Before you begin planning one for your organization, make sure you look into the relevant gaming laws. Here we’ve provided links to the most up-to-date information for all 50 states plus Washington, D.C. These laws are subject to change, so we’ve also provided the name of the government body on whose site we found the information.

So that $5 raffle ticket really paid off and you’ve won a really valuable raffle prize—money, a car, a house. Congratulations! However, be aware that that raffle prize can bite you in the rear come tax time if you haven’t accounted for it. Believe it or not, raffle prizes are taxable, and when the prize is a big one, the amount you owe can come as quite a surprise.

Now we certainly don’t mean to rain on your parade. We want you to enjoy that prize to the fullest! But the best way to do that is by being fully aware of all the financial implications from the start. Otherwise that parade is likely to end in a thunderstorm come April. Money and prizes won through raffles count as gambling proceeds and must be reported on Form 1040. Of course, sometimes organizations will pay the taxes due as part of a prize, in which case, you’re in luck!

Raffles are a very simple thing, really. One person pays another person money to gain the possibility of obtaining a prize. But why does this work? Why would anyone ever give good money just for the CHANCE to receive something in return, when you’re guaranteed to obtain something for that same money if you take it to a store? There are at least two strong desires that motivate people to spend money on raffle tickets: a desire to beat the system and a desire for excitement.

First, almost everyone relishes the idea of beating the system. The possibility of getting more than you pay for is hugely attractive people and is the motivation behind many behaviors. People will stand in line overnight to win free food at a Chick-fil-A. Others will buy products that they have no use for just because they have a fantastic coupon in hand. The same motivation sometimes drives people to buy raffle tickets. They’ll gladly pay $10 for a one-in-a-million chance at winning a new house, even though they know they’ll probably never see a return on that money. Just the possibility of getting a house for $10 is overwhelmingly exciting.

And that brings us to reason number two for why raffles work: excitement. The truth is that a lot of people find life very mundane. There’s nothing exciting about going to the store and paying $100 for a vacuum cleaner. But turn that same vacuum cleaner into a raffle prize and add the suspense of having to win it, all of a sudden it’s a lot more interesting. Plus, when you do win, you feel special—like you’ve somehow beaten everyone else.